Hyperfine (NASDAQ:HYPR) Stock Gets Downgrade from Wall Street Zen

Hyperfine (NASDAQ:HYPR) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other equities research analysts also recently commented on HYPR. Loop Capital set a $2.00 target price on Hyperfine in a report on Tuesday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a report on Thursday, October 15th. Lucid Cap Mkts began coverage on shares of Hyperfine in a research report on Tuesday, October 27th. They set a “strong-buy” rating for the company. BTIG Research reissued a “buy” rating and set a $2.00 price target on shares of Hyperfine in a research report on Tuesday, September 22nd. Finally, B. Riley Financial restated a “buy” rating and set a $1.60 price objective (down from $2.00) on shares of Hyperfine in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.02.

Hyperfine Stock Performance

Shares of HYPR opened at $0.71 on Friday. The stock has a 50-day moving average of $0.79 and a two-hundred day moving average of $1.11. Hyperfine has a one year low of $0.67 and a one year high of $1.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.45 and a current ratio of 6.15. The stock has a market cap of $75.30 million, a P/E ratio of -1.87 and a beta of 1.49.

Hyperfine (NASDAQ:HYPR) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $5.96 million for the quarter, compared to the consensus estimate of $5.84 million. Hyperfine had a negative return on equity of 97.88% and a negative net margin of 210.75%. As a group, research analysts predict that Hyperfine will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Hyperfine

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in Hyperfine by 7,695.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 487,994 shares of the company’s stock worth $394,000 after purchasing an additional 481,734 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Hyperfine by 100.2% in the first quarter. Renaissance Technologies LLC now owns 730,233 shares of the company’s stock valued at $789,000 after purchasing an additional 365,490 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Hyperfine in the second quarter valued at approximately $419,000. PFS Partners LLC increased its holdings in shares of Hyperfine by 150.0% in the third quarter. PFS Partners LLC now owns 50,000 shares of the company’s stock valued at $40,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of Hyperfine by 3.4% in the first quarter. Walleye Capital LLC now owns 223,988 shares of the company’s stock valued at $242,000 after purchasing an additional 7,330 shares during the last quarter. Hedge funds and other institutional investors own 15.03% of the company’s stock.

Hyperfine Company Profile

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on making magnetic resonance imaging more accessible and convenient. The company develops portable, low-field MRI technology designed to bring brain imaging directly to patients in locations such as intensive care units, emergency departments, operating rooms and other point-of-care settings.

Hyperfine’s primary product is the Swoop Portable MR Imaging System, a compact MRI platform that can be moved to a patient’s bedside.